At year-end, the Matisse Co. reported taxable income of $265,000 and pretax accounting income of $285,000. The journal entry to record income tax expense for the year includes a: Question 7 options: 1) Debit to Income Tax Expense, a debit to Deferred Tax Asset, and a credit to Income Tax Payable. 2) Debit to Income Tax Payable, a credit to Income Tax Expense and a cred to Deferred Tax Asset. 3) Debit to Income Tax Expense, a credit to Income Tax Payable and a credit to Deferred Tax Liability. 4) Debit to Income Tax Payable, a debit to Deferred Tax Asset and a credit to Income Tax Expense